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I filed chapter 11 got a discharge and the IRS didn't release its lien and still levied me. What can I do?
Benjamin's answer
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Answered on June 09, 2011
While property dealt with by the plan may be stripped of the tax lien pursuant to 11 USC § 1141(c), individual debtors often have prepetition...
Archived
I am head of household with two minor children. Can the government garnish my wages for a federal loan that I co-signed for?
Benjamin's answer
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Answered on June 09, 2011
A Small Business Administration (SBA) loan may deemed a debt to the Federal Government. If so, then the SBA has certain rights to collect it. The...
What exactly happens if you do not pay back a payday loan?
Benjamin's answer
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Answered on June 09, 2011
It is a criminal offense in Texas for a person to write a check if the person knows his or her account lacks sufficient funds to cover the amount...
Archived
In Texas, can your HOA file a lien against your home two days after you filed in court to begin your Chapter 7 Bankruptcy
Benjamin's answer
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Answered on June 09, 2011
Just a quick comment. If the lien is set aside, a bankruptcy may wipe out the pre-petition arrears because they will be unsecured like most of your...
Archived
Gifts from 401k and ira.
Benjamin's answer
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Answered on June 09, 2011
Children and grandchildren are typically considered "insiders" for purposes of the fraudulent transfers laws. In addition, gifts are inherently not...
Archived
We owe the IRS over $40,000 and now they are going to levy.
Benjamin's answer
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Answered on June 09, 2011
I agree that bankruptcy is worth looking into, but when taxes are dischargeable in a bankruptcy, the IRS is sometimes more receptive to a "doubt as...
Effect of Federal Tax Lien on unsecured creditors
Benjamin's answer
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Answered on June 08, 2011
If the Service files a NFTL, it will generally have priority to a taxpayer’s after-acquired property. In United States v. McDermott, 507 U.S. 447...
Archived
What is the tax implication if I transfer all my money from my traditional IRA account to my ROTH IRA account?
Benjamin's answer
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Answered on June 08, 2011
I would usually provide a summary myself, but this link says as much or more than I could in the space provided and the information is from a...
Archived
Money has been held by our financial institute to pay credit account.
Benjamin's answer
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Answered on June 08, 2011
These nasty little beasts are also commonly referred to as "dragnet clauses". If you want some more reading on the subject, you can refer to the...
Archived
My fiance' has back child support, will that affect my income tax refund when we get married?
Benjamin's answer
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Answered on June 08, 2011
It is very possible your IRS refund could be applied in the way you describe. When you file a joint income tax return, the Unites States Treasury...